Central Bank Watch

Russia’s key interest rate was left at 11.0%, its level since a 50-basis point reduction last July. At the end of 2014, the rate stood at 17% in an effort to contain inflation and ruble depreciation. In 2015, the rate was cut 200 basis points in January, 100 bps in March 150 bps in April, […] More

Central Bank Watch

The five hour seventeen minute Policy Board meeting over two days surprised and electrified world financial markets with a statement that by a 5-4 vote added a negative interest-rate dimension to its nearly three-year-long experiment with quantitative and qualitative monetary easing. Reserves held by the BOJ for financial institutions will from mid-February be earmarked for […] More

New Overnight Developments Abroad - Daily Update

The Bank of Japan adopted a negative interest rate after repeated officials comments from central bank officials earlier that they weren’t contemplating such. In response, Japanese share prices advanced 2.8% and the yen has fallen 2.2% against the dollar and 0.9% relative to the euro. The 10-year Japanese JGB yield declined 12 basis point to […] More

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